BG2S: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
BG2S
Largest movements
- Financial fixed assets +€4.3m
new in 2025: €4.3m
- Receivables within one year +€80,931
up €80,931 (+10876.3%), from €744 to €81,675
of which Trade receivables: +€81,161
- Cash +€44,668
up €44,668 (+8947.2%), from €499 to €45,167
mainly Debts after one year (+€3.8m) and Current portion of long-term debt (+€369,828)
- Debts after one year +€3.8m
new in 2025: €3.8m
- Current portion of long-term debt +€369,828
new in 2025: €369,828
- Other debts +€245,125
up €245,125 (+790.7%), from €31,000 to €276,125
- Gross operating margin +€83,734
up €83,734, from -€1,219 to €82,515
- Financial charges +€56,840
up €56,840 (+52736.9%), from €108 to €56,948
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €1,243 | €4,426,842 | +€4.4m | +355944.4% |
| Formation expenses | 20 | - | €0 | = | |
| Fixed assets | 21/28 | - | €4,300,000 | +€4.3m | |
| Tangible fixed assets | 22/27 | - | €0 | = | |
| Other tangible fixed assets | 26 | - | €0 | = | |
| Financial fixed assets | 28 | - | €4,300,000 | +€4.3m | |
| Current assets | 29/58 | €1,243 | €126,842 | +€125,599 | +10101.7% |
| Amounts receivable within one year | 40/41 | €744 | €81,675 | +€80,931 | +10876.3% |
| Trade receivables | 40 | €514 | €81,675 | +€81,161 | +15797.2% |
| Other amounts receivable | 41 | €230 | €0 | -€230 | -100.0% |
| Cash at bank and in hand | 54/58 | €499 | €45,167 | +€44,668 | +8947.2% |
| Total equity and liabilities | 10/49 | €1,243 | €4,426,842 | +€4.4m | +355944.4% |
| Equity | 10/15 | -€31,108 | -€5,540 | +€25,567 | +82.2% |
| Contributions | 10/11 | €20,000 | €20,000 | = | 0.0% |
| Profit (loss) carried forward | 14 | -€51,108 | -€25,540 | +€25,567 | +50.0% |
| Amounts payable | 17/49 | €32,351 | €4,432,382 | +€4.4m | +13600.8% |
| Amounts payable after more than one year | 17 | - | €3,779,924 | +€3.8m | |
| Financial debts | 170/4 | - | €3,779,924 | +€3.8m | |
| Amounts payable within one year | 42/48 | €31,951 | €651,637 | +€619,685 | +1939.5% |
| Current portion of amounts payable after more than one year | 42 | - | €369,828 | +€369,828 | |
| Trade debts | 44 | €951 | €448 | -€503 | -52.9% |
| Suppliers | 440/4 | €951 | €448 | -€503 | -52.9% |
| Taxes, remuneration and social security | 45 | - | €5,235 | +€5,235 | |
| Taxes | 450/3 | - | €5,235 | +€5,235 | |
| Other amounts payable | 47/48 | €31,000 | €276,125 | +€245,125 | +790.7% |
| Accrued charges and deferred income | 492/3 | €400 | €822 | +€422 | +105.6% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €0 | - | = | |
| Other operating charges | 640/8 | €400 | - | -€400 | |
| Gross operating margin | 9900 | -€1,219 | €82,515 | +€83,734 | |
| Operating profit (loss) | 9901 | -€1,618 | €82,515 | +€84,134 | |
| Financial charges | 65/66B | €108 | €56,948 | +€56,840 | +52736.9% |
| Recurring financial charges | 65 | €108 | €56,948 | +€56,840 | +52736.9% |
| Profit (loss) for the period before taxes | 9903 | -€1,726 | €25,567 | +€27,294 | |
| Profit (loss) for the period | 9904 | -€1,726 | €25,567 | +€27,294 | |
| Profit (loss) for the period to be appropriated | 9905 | -€1,726 | €25,567 | +€27,294 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.